In a high powered blender (I love my Blendtec), blend together the frozen strawberries and lemon lime soda on high until fully combined and smooth.
Pour strawberry mixture into a very large pitcher or punch bowl and stir in the limeade concentrate. Pour in the orange juice and stir to combine. Give it a taste. I love it just like this, but if you find it too tart, add 1-2 cups water.
Stir in the tequila and champagne and garnish with fresh lime and strawberry slices.
Serve immediately as the frozen strawberries and limeade concentrate will keep things cold, or store in the fridge and serve over ice. (Give it a good stir before serving)